Difference Between Socialism and Communism

Published on 06-May-2023




Ownership Social ownership of the means of production Collective ownership of the means of production
Distribution of wealth Distribution based on contribution to society Distribution based on needs of individuals
Role of the state Significant state intervention in the economy and society State is abolished in favor of a classless society
Private property Limited private property rights Private property is abolished
Incentives Incentives based on contribution to society Incentives based on societal needs and goals
Class system Class system still exists Class system is abolished
Equality Social equality is prioritized Complete equality is prioritized
Government structure Democratically elected government Dictatorship of the proletariat
Market economy Limited market economy No market economy
Consumer choices Limited consumer choices No consumer choices
Religion Tolerated but often discouraged Religion is often abolished
Globalization Open to international trade and investment Rejects globalization as exploitation by capitalists
Wealth accumulation Wealth accumulation is limited Wealth accumulation is abolished
Revolution May or may not require revolution Revolution is a necessary step to achieve communism
Currency Currency is still used Currency is abolished
Economic planning Economic planning is used to allocate resources Economic planning is used to achieve societal goals
Social welfare Strong social welfare programs Stronger social welfare programs
Labor unions Labor unions are allowed but controlled by the state Labor unions are allowed but controlled by the workers
Military Military is still maintained Military is abolished
Education Free education for all Free education for all

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